Sunrise Telecom Incorporated (OTC: SRTI)

The Shuman Law Firm announces a settlement of a derivative lawsuit brought on behalf of Sunrise Telecom Incorporated (Stovall v. Marshall, et al., No. 1:06CV076453 (Cal. Super. Ct. – Santa Clara)).  The Shuman Law Firm served as co-lead counsel in this action.  The complaint alleges that against certain current and former officers and directors of Sunrise Telecom manipulated stock options in such a manner as to enrich themselves to the detriment of Sunrise Telecom and its stockholders.  The settlement of this derivative action provides both a financial benefit to Sunrise Telecom and requires the adoption of an array of corporate governance reforms that are designed to strengthen the internal controls at Sunrise Telecom and also ensure that the acts alleged are less likely to occur in the future. 
Stipulation of Settlement (pdf)
Notice of Pendency & Proposed Settlement (pdf)

You may contact the following Shuman Law Firm attorneys about the case and the settlement at (866) 974-8626:
Kip B. Shuman: kip@shumanlawfirm.com
Rusty Glenn: rusty@shumanlawfirm.com